GANGESSECU - Ganges Securitie
📢 Recent Corporate Announcements
Ganges Securities reported a significant decline in consolidated net profit, falling to ₹15.70 lakhs in Q3 FY26 from ₹290.59 lakhs in the same quarter last year. Consolidated revenue from operations decreased by 14% YoY to ₹1,125.10 lakhs, primarily impacted by lower tea sales and reduced dividend income. The company recorded a massive total comprehensive loss of ₹3,474.78 lakhs due to negative fair value adjustments in its investment portfolio. Standalone performance remained relatively stable with a net profit of ₹101.60 lakhs compared to ₹106.27 lakhs YoY.
- Consolidated Net Profit plummeted to ₹15.70 lakhs in Q3 FY26 compared to ₹290.59 lakhs in Q3 FY25.
- Consolidated Revenue from Operations fell 14% YoY to ₹1,125.10 lakhs from ₹1,310.40 lakhs.
- Total Comprehensive Loss stood at ₹3,474.78 lakhs, driven by a ₹3,490.48 lakh hit in Other Comprehensive Income (OCI).
- Tea segment revenue decreased to ₹947.91 lakhs from ₹1,161.11 lakhs in the corresponding previous quarter.
- Consolidated Earnings Per Share (EPS) dropped sharply to ₹0.16 from ₹2.91 YoY.
Ganges Securities reported a consolidated total income of ₹1,517.32 lakhs for Q3 FY26, a 15.8% increase from ₹1,310.40 lakhs in Q3 FY25. Despite the revenue growth, consolidated net profit dropped significantly to ₹103.70 lakhs from ₹290.59 lakhs in the previous year's corresponding quarter. The company recorded a massive Total Comprehensive Loss of ₹3,386.88 lakhs, primarily due to a negative swing of ₹3,490.48 lakhs in Other Comprehensive Income related to investment valuations. The standalone business remained stable, but the consolidated performance was weighed down by the tea segment and investment fluctuations.
- Consolidated Revenue from Operations increased 15.8% YoY to ₹1,517.32 lakhs.
- Consolidated Net Profit after tax declined by 64.3% YoY to ₹103.70 lakhs.
- Total Comprehensive Income turned into a loss of ₹3,386.88 lakhs due to negative fair value changes in investments.
- Tea segment revenue grew to ₹1,340.15 lakhs from ₹1,128.14 lakhs in the year-ago quarter.
- Standalone Net Profit stood at ₹101.60 lakhs, showing relative stability compared to ₹106.27 lakhs in Q3 FY25.
Ganges Securities Limited has submitted its quarterly compliance certificate for the period ended December 31, 2025, as required under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Registrar and Share Transfer Agent MUFG Intime India Private Limited, confirms that dematerialization requests were processed within the prescribed timelines. It further verifies that security certificates received were mutilated and cancelled after due verification. This is a standard administrative filing and does not reflect any change in the company's financial or operational status.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- Confirmation that dematerialization requests were processed and updated in the register of members.
- Certificate issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited.
- Verification that security certificates were mutilated and cancelled as per SEBI guidelines.
Ganges Securities Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This closure is a mandatory regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter ending December 31, 2025. The trading window will remain closed until 48 hours after the financial results are officially declared to the stock exchanges. This is a standard procedure for listed companies and does not indicate any fundamental change in the company's operations.
- Trading window closure effective from January 1, 2026.
- Closure pertains to the financial results for the quarter ending December 31, 2025.
- Window to reopen 48 hours after the official announcement of quarterly results.
- Applicable to all Designated Persons and their immediate relatives as per SEBI norms.
Ganges Securities Limited has provided a formal clarification to the stock exchanges regarding the signing authority of its Q1 FY26 financial results, confirming that Director Brij Mohan Agarwal was duly authorized in the absence of the Chairperson and MD. For the quarter ended June 30, 2025, the company reported a standalone net profit of ₹12.89 lakhs, down from ₹33.66 lakhs in the corresponding quarter of the previous year. Total income for the quarter stood at ₹67.67 lakhs, compared to ₹82.84 lakhs YoY. Notably, Total Comprehensive Income reached ₹2,153.71 lakhs, primarily driven by significant gains in Other Comprehensive Income related to investment revaluations.
- Standalone Net Profit for Q1 FY26 decreased to ₹12.89 lakhs from ₹33.66 lakhs in Q1 FY25.
- Total Revenue from Operations fell to ₹55.72 lakhs compared to ₹76.59 lakhs in the year-ago period.
- Total Comprehensive Income surged to ₹2,153.71 lakhs, bolstered by ₹2,140.82 lakhs in Other Comprehensive Income.
- The company addressed SEBI Regulation 33(2)(b) discrepancies, confirming proper board authorization for financial signing.
- Standalone expenses rose significantly to ₹80.93 lakhs from ₹42.01 lakhs in the previous year's quarter.
Financial Performance
Revenue Growth by Segment
Consolidated total income for the six months ended September 30, 2025, grew 44.26% YoY to INR 21.86 Cr (2186.54 lakhs) from INR 15.15 Cr (1515.63 lakhs). Standalone (Investment) income grew 20.81% YoY to INR 5.66 Cr (566.15 lakhs) from INR 4.68 Cr (468.61 lakhs). The tea subsidiary segment contributed approximately 74.1% of consolidated revenue.
Profitability Margins
Consolidated Net Profit before tax for the six months ended September 30, 2025, was INR 4.78 Cr (478.58 lakhs) on INR 21.86 Cr income, representing a margin of 21.89%. Standalone Net Profit for Q2 FY26 was INR 3.52 Cr (352.88 lakhs).
Operational Drivers
Raw Materials
Green tea leaves, fertilizers, and fuel for processing (implied by subsidiary operations in the tea industry).
Strategic Growth
Expected Growth Rate
44.26%
Growth Strategy
Growth is driven by the performance of the wholly-owned subsidiary, Cinnatolliah Tea Ltd, and the company's investment portfolio. Strategy includes stabilizing subsidiary operations following internal fraud and maintaining compliance with the Tea Act, 1953, to ensure consistent production output.
Products & Services
Investment and securities services; Tea production and sales (via Cinnatolliah Tea Ltd).
Brand Portfolio
Cinnatolliah Tea, Birla Sugar (associated via corporate identity).
External Factors
Industry Trends
The tea industry is evolving under strict regulatory frameworks like the Tea Act 1953 and Food Safety and Standards Act 2006, requiring higher compliance costs for quality and labor standards.
Competitive Moat
Association with the Birla Group provides a strong brand legacy and access to capital. The tea plantation assets of Cinnatolliah represent a tangible asset-based moat with established production cycles.
Macro Economic Sensitivity
Sensitivity to agricultural cycles and labor regulations affecting the tea industry.
Regulatory & Governance
Industry Regulations
Operations are governed by the Tea Act 1953, Plantation Labour Act 1951, Legal Metrology Act 2009, and The Food Safety and Standards Act 2006.
Legal Contingencies
The company reported no pending litigations impacting its financial position as of March 31, 2025. However, it incurred a fine of INR 1,00,000 from NSE (paid) and INR 1,00,000 from BSE (waiver pending) for delayed appointment of a Company Secretary.
Risk Analysis
Key Uncertainties
Internal control risks evidenced by the misappropriation of funds by the subsidiary CFO; regulatory compliance risks regarding KMP appointments.
Geographic Concentration Risk
Operations are concentrated in Uttar Pradesh (Hargaon) and West Bengal (Kolkata).